Budget 2027: Manufacturers seek lower duties on raw materials to cut costs
Executive Brief • Key Highlights
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- ✓Manufacturers are seeking lower import duties on raw materials in the budget for 2027-28 to cut costs.
- ✓Jitendra Chopra said, "Reducing customs duties on primary aluminium and aluminium scrap would lower input costs, improve capacity utilisation and help revive closed factories." Many industry bodies submitted these requests to the government.
Story at a Glance
- Category
- Indian Markets
- Reported By
- mint
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
Summary
Their budget proposals include tariff cuts and longer-term predictability for sectors such as aluminium, steel, textiles and chemicals, alongside faster GST refunds for textile processors.
New Delhi: Manufacturers are seeking lower import duties on raw materials and intermediate goods in the budget for 2027-28, arguing that high input costs are hurting domestic production and making Indian goods less competitive, three people familiar with the discussions said.
From aluminium and textiles to chemicals and export-oriented manufacturing, industry associations have flagged high and uneven duties on inputs as a cost burden for downstream producers, particularly micro, small and medium enterprises (MSMEs). In some cases, they have argued, imported finished products enjoy lower tariff rates than the raw materials used by domestic manufacturers.
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